BNP Paribas Financial Markets Acquires 121,664 Shares of Macy's, Inc. (NYSE:M)

BNP Paribas Financial Markets grew its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 45.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 390,399 shares of the company's stock after acquiring an additional 121,664 shares during the quarter. BNP Paribas Financial Markets owned about 0.14% of Macy's worth $7,804,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Macy's by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company's stock worth $422,390,000 after purchasing an additional 2,645,577 shares during the period. Deutsche Bank AG lifted its holdings in Macy's by 260.8% in the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company's stock valued at $29,577,000 after acquiring an additional 1,841,432 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Macy's by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company's stock worth $38,173,000 after purchasing an additional 565,269 shares during the last quarter. SG Americas Securities LLC bought a new stake in Macy's during the fourth quarter worth approximately $6,021,000. Finally, Invenomic Capital Management LP acquired a new position in Macy's in the fourth quarter worth approximately $19,372,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Activity at Macy's

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the business's stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Macy's news, EVP Danielle L. Kirgan sold 24,147 shares of Macy's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company's stock, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 18,981 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company's stock, valued at $5,067,344.40. The disclosure for this sale can be found here. Insiders sold a total of 43,464 shares of company stock worth $824,081 in the last quarter. Corporate insiders own 2.77% of the company's stock.

Analyst Ratings Changes

M has been the subject of a number of research analyst reports. TD Cowen increased their target price on Macy's from $20.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, May 22nd. Telsey Advisory Group reissued a "market perform" rating and issued a $21.00 price target on shares of Macy's in a research note on Tuesday, May 21st. StockNews.com started coverage on shares of Macy's in a research note on Friday, July 5th. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Macy's from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Macy's has a consensus rating of "Hold" and a consensus target price of $17.70.

Macy's Price Performance

Shares of Macy's stock traded up $0.73 during mid-day trading on Thursday, reaching $19.56. 4,390,496 shares of the stock were exchanged, compared to its average volume of 6,645,965. Macy's, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm has a 50-day simple moving average of $19.09 and a 200 day simple moving average of $19.22. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 651.83 and a beta of 2.18.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Macy's had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. Macy's's revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Macy's, Inc. will post 2.79 EPS for the current fiscal year.

Macy's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, June 14th. Macy's's dividend payout ratio is currently 2,300.00%.

Macy's Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.